ACCESS Newswire
01 Jun 2020, 19:07 GMT+10
DUBAI, UAE / ACCESSWIRE / June 1, 2020 / The global COVID-19 pandemic has severely impacted the global economy. However, the banking system is largely considered to be an essential service, which sustains the prospects of cognitive systems spending market during the global pandemic. The global cognitive systems spending market is set for stupendous expansion at 14.6% CAGR between 2020 and 2030, according to a new Future Market Insights (FMI) study.
Further, the pandemic has also resulted in the increased use of machine learning, Big Data, automated reasoning, and natural language processing as tools to limit the spread of the contagion, which increases the demand for cognitive systems spending as projected by a new study of Future Market Insights (FMI). These trends will have an impact on finance, insurance, government, and investment services which could potentially generate improved revenue flow in the cognitive systems spending market. The industry is anticipated to witness steady growth on the back of demand from myriad end use verticals, after the pandemic subsides in the near future.
'The rising demand for cognitive systems in multitude of applications and the rising awareness of technological advancements such as natural language processing, which are key factors supporting the growth of the global cognitive systems spending market. This will aid the growth of the industry post the end of the pandemic,' says the FMI study.
For more insights into the Market, request a sample of this report@ https://www.futuremarketinsights.com/reports/sample/rep-gb-2616
Cognitive Systems Spending Market- Key Takeaways
Cognitive Systems Spending Market- Key Driving Factors
Cognitive Systems Spending Market- Key Restraints
COVID-19 Impact on Cognitive Systems Spending Market
The practice of cognitive collaboration beings together the advantages of data analytics, big data, machine learning, and artificial intelligence to support in distributed and in person collaborations. This trend will remain key to sustaining the growth of the cognitive systems spending market through the COVID-19 crisis. Computer science researchers have already developed artificial intelligence tools to diagnose potential patients, by analyzing sound patterns of cough, speech, and breath. Such complex mechanisms drive the growth of the cognitive systems spending market. The support of cloud infrastructure for work-at-home practices supports developments in the market in the long term.
Request the Coronavirus Impact Analysis across Industries and Markets@ https://www.futuremarketinsights.com/covid19/rep-gb-2616
Competitive Landscape
Major players are seeking strategic mergers, acquisitions and partnerships to expand regional footprints. IPsoft Inc., International Business Machines Corporation, Cognitive Scale Inc., Accenture plc, Wipro Ltd., HP Inc., Attivio, Microsoft Corp., and Intel Corporation are some of the leading cognitive systems spending players in the global market.
About the Report
This study offers readers a comprehensive market forecast of the cognitive systems spending market. Global, regional and country-level analysis of the latest industry trends impacting the cognitive systems spending market is covered in this Future Market Insight (FMI) study. The report offers compelling insights on cognitive systems spending market on the basis of product type (hardware, software, and services), deployment type (public and on-premise), technology type (natural language processing, machine learning, and automated reasoning) and verticals (banking, education, government, healthcare, insurance, manufacturing, securities and investment services, telecommunications, transportation, and others) across six regions (North America, Latin America, Europe, East Asia, South Asia & Pacific, and MEA).
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About Future Market Insights
Expert analysis, actionable insights, and strategic recommendations of the veteran research team at FMI helps clients from across the globe with their unique business intelligence requirements. With a repository of over a thousand reports and 1 million+ data points, the team has scrutinized the electronics, semiconductors, and ICT sector across 50+ countries for over a decade. The team provides unmatched end-to-end research and consulting services. Reach out to explore how we can help.
Contact:
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Jumeirah Lakes Towers, Dubai, United Arab Emirates
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Market Report: https://www.futuremarketinsights.com/reports/cognitive-systems-spending-market
Press Release Source: https://www.futuremarketinsights.com/press-release/cognitive-systems-spending-market
SOURCE: Future Market Insights
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